THEFACTORY: what changed
THEFACTORY
Largest movements
- Cash -€35,858
down €35,858 (-11.8%), from €304,191 to €268,334
mainly Net result for the year (-€16,435) and Trade debts (-€13,704)
- Tangible fixed assets -€7,386
down €7,386 (-3.2%), from €234,420 to €227,034
of which Land and buildings: -€6,812
- Reserves -€16,435
down €16,435 (-5.2%), from €317,255 to €300,820
- Trade debts -€13,704
down €13,704 (-100%), from €13,704 to €0
- Debts after one year -€13,395
down €13,395 (-8.2%), from €163,837 to €150,443
- Financial income -€469,373
down €469,373 (-98.5%), from €476,392 to €7,020
of which Non-recurring financial income: -€476,165
- Gross operating margin -€79,980
down €79,980, from €68,618 to -€11,362
- Taxes -€17,891
down €17,891 (-98.1%), from €18,237 to €346
- Financial charges -€4,092
down €4,092 (-77.5%), from €5,283 to €1,191
of which Financial charges: -€4,092
- Other operating charges -€2,290
down €2,290 (-70.7%), from €3,238 to €948
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €540,148 | €498,652 | -€41,496 | -7.7% |
| Fixed assets | 21/28 | €234,420 | €227,034 | -€7,386 | -3.2% |
| Tangible fixed assets | 22/27 | €234,420 | €227,034 | -€7,386 | -3.2% |
| Land and buildings | 22 | €232,492 | €225,679 | -€6,812 | -2.9% |
| Furniture and vehicles | 24 | €1,929 | €1,355 | -€574 | -29.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €305,728 | €271,617 | -€34,110 | -11.2% |
| Amounts receivable within one year | 40/41 | €1,018 | €2,166 | +€1,148 | +113% |
| Trade receivables | 40 | €0 | €298 | +€298 | |
| Other amounts receivable | 41 | €1,018 | €1,869 | +€850 | +83.5% |
| Current investments | 50/53 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €304,191 | €268,334 | -€35,858 | -11.8% |
| Deferred charges and accrued income | 490/1 | €518 | €1,117 | +€600 | +116% |
| Total equity and liabilities | 10/49 | €540,148 | €498,652 | -€41,496 | -7.7% |
| Equity | 10/15 | €335,855 | €319,420 | -€16,435 | -4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €317,255 | €300,820 | -€16,435 | -5.2% |
| Distributable reserves | 133 | €317,255 | €300,820 | -€16,435 | -5.2% |
| Amounts payable | 17/49 | €204,293 | €179,232 | -€25,061 | -12.3% |
| Amounts payable after more than one year | 17 | €163,837 | €150,443 | -€13,395 | -8.2% |
| Financial debts | 170/4 | €163,837 | €150,443 | -€13,395 | -8.2% |
| Amounts payable within one year | 42/48 | €40,456 | €28,790 | -€11,666 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €13,140 | €13,395 | +€255 | +1.9% |
| Trade debts | 44 | €13,704 | €0 | -€13,704 | -100% |
| Suppliers | 440/4 | €13,704 | €0 | -€13,704 | -100% |
| Taxes, remuneration and social security | 45 | €3,470 | €3,237 | -€233 | -6.7% |
| Taxes | 450/3 | €3,470 | €3,237 | -€233 | -6.7% |
| Other amounts payable | 47/48 | €10,142 | €12,158 | +€2,016 | +19.9% |
| Non-recurring operating income | 76A | €54,264 | €0 | -€54,264 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,386 | €7,386 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,238 | €948 | -€2,290 | -70.7% |
| Non-recurring operating charges | 66A | €476,165 | €2,222 | -€473,943 | -99.5% |
| Gross operating margin | 9900 | €68,618 | -€11,362 | -€79,980 | |
| Operating profit (loss) | 9901 | -€418,171 | -€21,918 | +€396,253 | +94.8% |
| Financial income | 75/76B | €476,392 | €7,020 | -€469,373 | -98.5% |
| Recurring financial income | 75 | €227 | €7,020 | +€6,792 | +2,990% |
| Non-recurring financial income | 76B | €476,165 | €0 | -€476,165 | -100% |
| Financial charges | 65/66B | €5,283 | €1,191 | -€4,092 | -77.5% |
| Recurring financial charges | 65 | €5,283 | €1,191 | -€4,092 | -77.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €52,939 | -€16,089 | -€69,028 | |
| Income taxes | 67/77 | €18,237 | €346 | -€17,891 | -98.1% |
| Profit (loss) for the period | 9904 | €34,702 | -€16,435 | -€51,137 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,702 | -€16,435 | -€51,137 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.